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Solving the Dynamics of a Non-Linear Representative Agent Model

Author

Listed:
  • Herbert, R.C.
  • Stemp, P.J.

Abstract

This paper describes two alternative approaches (modified reverse shooting and forward shooting) for solving the time-path of a representative agent model following an exogenous shock. In particular, reverse shooting is demonstrably better for solving part of the model but must be modified before it can be used to solve the full model. On the other hand, an unmodified form of forward shooting can be used to solve both part and full models.

Suggested Citation

  • Herbert, R.C. & Stemp, P.J., 1999. "Solving the Dynamics of a Non-Linear Representative Agent Model," Department of Economics - Working Papers Series 705, The University of Melbourne.
    • Handle: RePEc:mlb:wpaper:705
    as

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    More about this item

    Keywords

    ECONOMIC MODELS ; DYNAMIC ANALYSIS ; ECONOMICS;
    All these keywords.

    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • D00 - Microeconomics - - General - - - General

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